Facebook Pay is yet another attempt to get you to send money through Facebook-owned apps
Yeah, I’ll probably pass on this.
Facebook Pay is a recently released feature that can be used on Messenger, WhatsApp, and Instagram. How it works is in its name; you can send money to other users through messaging platforms owned by Facebook.
Along with trying to make the whole payment process more streamlined on Facebook, there is a big differentiator between Facebook Pay and Payments.
Previously, Payments through Facebook Messenger had to be tied to a bank account and/or a debit card. Now, Facebook Pay can work with bank accounts, credit cards, and other payment platforms such as PayPal and Stripe.
Facebook Pay feels like an updated, more full version of Payments
The company’s VP of Marketplace & Commerce Deborah Liu introduced Pay in a blog. In it, she wrote about what the implementation of Facebook Pay is going to accomplish:
Facebook Pay is part of our ongoing work to make commerce more convenient, accessible and secure for people on our apps. And in doing so, we believe we can help businesses grow and empower people everywhere to buy and sell things online. We’ll continue to develop Facebook Pay and look for ways to make it even more valuable for people on our apps.
Based on her blog post, the service will focus on having the ability able to purchase event tickets. Along with that, Pay looks like it is going to help improve the Marketplace experience for buyers and shoppers.
Pay is currently unrelated to Facebook’s planned cryptocurrency Libra. So, currently, they may have plans to use it, but that, at this point, that is speculation.
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